Cornerstone Total Return Fund

CRF • XASE

Cornerstone Total Return Fund is a publicly traded company on XASE. As of Q3 2025, 75 institutional investors hold shares in this company, with total holdings valued at $146.8M. Alpine Partners VI, LLC is the largest holder with a position valued at $27.1M.

Overview

Overview of institutional ownership in CRF as of Q3 2025

All Institutions

Institutions: 75
Value Held: $146.8M
Shares Held: 18.3M
Avg Position: $2.0M
Median Position: $145.2K

Hedge Funds

Hedge Funds: 6
Value Held: $50.8M
Shares Held: 6.3M
Avg Position: $8.5M
Median Position: $8.1M

Biggest Investors

Institutions with the largest positions in CRF as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
A Alpine Partners VI, LLC Institution	-	$27.1M 6.41% of portfolio	0.00% 3.4M shares	Q1 2023 Held for 2y 8m	$423.2M
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	Ari Louis Glass Managing Partner	$24.4M 0.64% of portfolio	0.00% 3.0M shares	Q4 2022 Held for 2y 11m	$3.8B
OZ MANAGEMENT LP Hedge Fund•Multi-Strategy	Wayne Nathan Cohen President	$20.7M 0.45% of portfolio	0.00% 2.6M shares	Q2 2025 Held for 5 months	$4.6B
L LPL Financial LLC Institution	-	$14.3M 0.00% of portfolio	0.00% 1.8M shares	Q4 2022 Held for 2y 11m	$340.07B
Y Yakira Capital Management, Inc. Hedge Fund•Event Driven	Bruce Mitchell Kallins President	$12.8M 5.28% of portfolio	0.00% 1.6M shares	Q1 2025 Held for 8 months	$243.3M
RIVERNORTH CAPITAL MANAGEMENT, LLC Hedge Fund•Multi-Strategy	Patrick William Galley CEO	$10.8M 0.66% of portfolio	0.00% 1.3M shares	Q2 2025 Held for 5 months	$1.7B
Cable Car Capital LLC Hedge Fund•Long/Short	Evan Howell Eurich COO	$5.3M 4.46% of portfolio	0.00% 661.5K shares	Q4 2023 Held for 1y 11m	$119.3M
A Advisor Group Holdings, Inc. Institution	-	$5.3M 0.01% of portfolio	0.00% 667.9K shares	Q4 2022 Held for 2y 11m	$71.0B
RAYMOND JAMES FINANCIAL INC RIA/Wealth	Steven Robert Marcus CEO	$4.0M 0.00% of portfolio	0.00% 503.6K shares	Q4 2024 Held for 11 months	$310.43B
Perennial Investment Advisors, LLC RIA/Wealth	Anthony Seo Lee CCO	$3.7M 0.31% of portfolio	0.00% 461.3K shares	Q1 2023 Held for 2y 8m	$1.2B

Net Capital Flow

Institutional buying and selling activity for CRF in Q3 2025

Traded: −$18.8M
Buyers: 44
Sellers: 27
Total Bought: +$15.1M
Total Sold: −$33.9M
Avg Position: $1.7M

Biggest Buyers

Institution	Net Bought	Current Position
A Alpine Partners VI, LLC Institution	+$4.0M +496.1K shares	$27.1M 3.4M shares
A Advisor Group Holdings, Inc. Institution	+$3.1M +393.4K shares	$5.3M 667.9K shares
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	+$2.1M +260.8K shares	$24.4M 3.0M shares
OZ MANAGEMENT LP Hedge Fund•Multi-Strategy	+$1.1M +132.1K shares	$20.7M 2.6M shares
L LPL Financial LLC Institution	+$988.3K +122.9K shares	$14.3M 1.8M shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	+$833.3K +103.6K shares	$4.0M 503.6K shares
Cetera Investment Advisers RIA/Wealth	+$678.3K +84.4K shares	$1.1M 133.3K shares
A AMERIFLEX GROUP, INC. Institution	+$369.8K +46.0K shares	$369.8K 46.0K shares
CREATIVE FINANCIAL DESIGNS INC /ADV RIA/Wealth	+$305.5K +1.5K shares	$305.5K 38.0K shares
Baird Financial Group, Inc. Private Equity	+$235.9K +29.3K shares	$980.2K 121.9K shares

Biggest Sellers

Institution	Net Sold	Current Position
ABSOLUTE INVESTMENT ADVISERS LLC Hedge Fund•Multi-Strategy	−$9.9M −1.3M shares	Sold Off 0 shares
Almitas Capital LLC RIA/Wealth	−$6.4M −831.1K shares	Sold Off 0 shares
Ursa Fund Management, LLC Hedge Fund•Event Driven	−$5.6M −725.0K shares	Sold Off 0 shares
RIVERNORTH CAPITAL MANAGEMENT, LLC Hedge Fund•Multi-Strategy	−$4.9M −608.4K shares	$10.8M 1.3M shares
Y Yakira Capital Management, Inc. Hedge Fund•Event Driven	−$3.2M −395.3K shares	$12.8M 1.6M shares
Q Quarry LP Institution	−$2.0M −249.5K shares	$2.1M 262.6K shares
C CANTOR FITZGERALD, L. P. Institution	−$427.5K −53.2K shares	$807.3K 100.4K shares
FMR LLC Institution	−$280.6K −36.2K shares	Sold Off 0 shares
J JANE STREET GROUP, LLC Institution	−$262.0K −32.6K shares	$244.2K 30.4K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$247.2K −31.9K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited CRF in Q3 2025

New Positions: 12
New Value: $1.1M
Exited Positions: 12
Exited Value: $23.0M

New Positions

Institution	Position Value
CREATIVE FINANCIAL DESIGNS INC /ADV RIA/Wealth	$305.5K 38.0K shares
Buska Wealth Management, LLC RIA/Wealth	$186.2K 23.2K shares
O OneAscent Financial Services LLC RIA/Wealth	$178.3K 22.2K shares
BECKER CAPITAL MANAGEMENT INC RIA/Wealth	$175.2K 21.8K shares
M Marshall Financial Group LLC Institution	$145.2K 18.1K shares
KESTRA PRIVATE WEALTH SERVICES, LLC RIA/Wealth	$88.1K 11.0K shares
DUNCKER STREETT & CO INC RIA/Wealth	$8.0K 1.0K shares
GoalVest Advisory LLC Private Equity	$7.6K 940.0 shares
HALLMARK CAPITAL MANAGEMENT INC RIA/Wealth	$5.2K 645.0 shares
HIGHLINE WEALTH PARTNERS LLC RIA/Wealth	$4.0K 500.0 shares

Exited Positions

Institution	Previous Position
ABSOLUTE INVESTMENT ADVISERS LLC Hedge Fund•Multi-Strategy	$9.9M 1.3M shares
Almitas Capital LLC RIA/Wealth	$6.4M 831.1K shares
Ursa Fund Management, LLC Hedge Fund•Event Driven	$5.6M 725.0K shares
FMR LLC Institution	$280.6K 36.2K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$247.2K 31.9K shares
OPPENHEIMER & CO INC RIA/Wealth	$151.1K 19.5K shares
WOLVERINE ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	$138.2K 17.8K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$115.3K 14.9K shares
GOLDMAN SACHS GROUP INC Institution	$77.5K 10.0K shares
BANK OF AMERICA CORP /DE/ Institution	$23.7K 3.1K shares

Options Activity

Institutions with the largest Call and Put options positions in CRF as of Q3 2025

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with CRF as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
A Alpine Partners VI, LLC Institution	-	6.41% $27.1M	0.00% 3.4M shares	Q1 2023 Held for 2y 8m	$423.2M
Y Yakira Capital Management, Inc. Hedge Fund•Event Driven	Bruce Mitchell Kallins President	5.28% $12.8M	0.00% 1.6M shares	Q1 2025 Held for 8 months	$243.3M
Cable Car Capital LLC Hedge Fund•Long/Short	Evan Howell Eurich COO	4.46% $5.3M	0.00% 661.5K shares	Q4 2023 Held for 1y 11m	$119.3M
RIVERNORTH CAPITAL MANAGEMENT, LLC Hedge Fund•Multi-Strategy	Patrick William Galley CEO	0.66% $10.8M	0.00% 1.3M shares	Q2 2025 Held for 5 months	$1.7B
WINEBRENNER CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	Earl George Winebrenner Managing Partner	0.64% $884.4K	0.00% 110.0K shares	Q4 2024 Held for 11 months	$137.9M
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	Ari Louis Glass Managing Partner	0.64% $24.4M	0.00% 3.0M shares	Q4 2022 Held for 2y 11m	$3.8B
Q Quarry LP Institution	-	0.57% $2.1M	0.00% 262.6K shares	Q3 2024 Held for 1y 2m	$369.0M
OZ MANAGEMENT LP Hedge Fund•Multi-Strategy	Wayne Nathan Cohen President	0.45% $20.7M	0.00% 2.6M shares	Q2 2025 Held for 5 months	$4.6B
M Mallini Complete Financial Planning LLC RIA/Wealth	James Barber Twining CEO	0.45% $551.1K	0.00% 68.5K shares	Q4 2024 Held for 11 months	$122.5M
Perennial Investment Advisors, LLC RIA/Wealth	Anthony Seo Lee CCO	0.31% $3.7M	0.00% 461.3K shares	Q1 2023 Held for 2y 8m	$1.2B